Pre Market Thoughts - 10 Aug 26 Yields unchanged into Asia. Gold and Oil are also sitting unchanged as we head into a new week. Asia trading was quiet with KOSPI up 0.65% and NKY up 2%. Korea markets remains dragged down by $0660 though however it looks increasingly likely that the short term selling flows are drying up. To me it is likely that SKHY PA will resemble Samsung - BofA also expects that $0660 will return 50% of FCF - on 2026 expectations of 140 trn won (98b) and 240 trn won (170b) for 2027 - $0660 is about 560b, at these levels the FCF returns will be about 135b, about 24% of the corporate value of the firm. Coupled with the recent bearish turn in sentiment, i think that positioning in $0660 has finally lightened up. I have also seen a few of my notable counter signals turn bearish on memory and this gives me great solace. Away from memory, SPCX has gained attention from Elon - the chief KOL on his compute plans. This is very bullish for the neoclouds sector because it highlights the shortage in compute. CRWV, ORCL have both rerated stronger while NBIS has been held back. This week NBIS also reports earnings BMO on 12 Aug (Search for all your favourite companies earnings on the calender on http://terminal.gambit.zone). Personally i have no read on the ER but i think should NBIS approach levels like 170-160 - these could be good to add on exposure. I would consider rotating some of my exposure in CRWV and ORCL over to NBIS if we have that relative underperformance in NBIS. Away from memory, neoclouds, I have also noted nuclear as a sector to be moving. The interesting ticker here is XE. Given that DCs are tremendously power hungry, nuclear is the choice of energy for DCs in the future. SMR valuations remained discounted because much of this is weighted in the future. However, XE is interesting to look at because of the AMZN tie up. Good luck!(degentrading)